The Week Ahead: Will Fed Raise Rates Amid Sluggish Growth?

Jeremy Glaser: Welcome to The Week Ahead.

The Fed meets this week and is widely expected to raise rates on Wednesday, but Morningstar's director of economic analysis, Bob Johnson, thinks the hike isn't a done deal. Weakness across several parts of the economy and inflation levels that look to be under control may lead the Fed to take a breather.

Wednesday will also bring the release of May retail sales data the consumer price index. Both could be important indicators of future Fed action. Industrial production is due on Thursday along with a few regional manufacturing gauges. Housing starts data on Friday will also be closely watched.

Earnings are virtually nonexistent, but one that is due is grocer Kroger on Thursday.

Stay tuned to Morningstar for our take on these stories.